Tanmeyah

national microfinance bank jordan

National Microfinance Bank

Date of est. 2006

Private Shareholding Company purposes to participate in the implementation of country poverty alleviation strategy by significantly increasing the productivity of the existing micro and small entrepreneurs of Jordan, particularly women, and to improve their standard of living, through the direct and indirect provision of sustainable lending and other financial services that suit their needs.

NMB is working to fulfill this mission through accomplishing of the following goals:

  • NMB ranked 88 on the mix global to 100 composite ranking of MFIs in 2009 reflecting the rapid and steady growth of its operations.
  • Initiate and manage several partnership agreements to provide the clients with their needs, mainly the youth and start-up entrepreneurs, and to reach the rural and remote areas which is not covered by any another MFI or financial institution.
  • Extended more than 155,000 loans for total of JD 105 million since inception and until December 31st, 2012.
  • Provide the clients with a variety of lending products started with JD 200 and up to JD 50,000 to serve the small and medium enterprises segments, these products are classified into three major categories: Watani Product, starting with JD 200 up to JD 1,000, provided to micro entrepreneurs to start or support their businesses ide3ally runs in-door by the women in their local areas. Mashroui Product, starting with JD 1,100 up

    to JD 5,000, provided to small registered business, Ambitious projects established by youth and people with vocational skills longing to establish or develop their own businesses. Istithmari Product, starting with JD 5,100 up to JD 50,000, provided to small and medium enterprises characterized by labor-intensive and the high added value.

  • Offer the service of in-patient health insurance with the lowest premium in the market with the ability to pay the coverage cost over 12 monthly installments; this program provided in cooperation with the Arab Orient Insurance Company.
  • Develop the lending products to contain the purposes of education, health, home improvement as a step toward building a financial inclusion approach to be a supplemental tool in poverty reduction besides the business-related financing.
  • Undertaking of many social initiatives to support the local communities such as sponsorships, part time employment opportunities for students, equipped the primary school students with the bags and stationary…
  • Working with global reputable universities to host the fellows applying the field researches in Jordan in areas of microfinance and poverty reduction.
  • Established a special unit for the non-financial services to support the clients owning and running the micro and small enterprises by offering the essential training in both technical and financial areas, participating in bazaars inside Jordan and abroad, and helping the clients to reach the highest quality and productivity to turn them into small and medium businesses.

Source: www.tanmeyah-jo.org

Category: Payday loans

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